The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1887-09-22
THE THREE C's RAILROAD.
Camden not Wiling to Put its Bonds
On Deposit Until the Construction
Contract is Carried Out.

CAMDEN, September 17.-There was
quite heated meeting yesterday about
seventy business men, the majority Of
whom were from Camden, in the Opera
House. It was RAILROAD meeting"
Intendant dunlap called the meeting to
order and Dr.. Corbett was appointed
secretary.
DR.. DeSiusSnre explained that the
meeting was called to confer about the
action of the county commissioners in
regard to the bonds subscribed to the
Charleston, Cincianati aud Chicago
Railroad. or rather whether it was adj
visable to issue the bonds now, and
place them on deposit with the Boston
Safe and Deposit Company, subject to
the order OF the county commits
could effect an advantageous loan, for
the purpose of constructing the road.
Mr.. w. Il. r. Workman, clerk of the
board of county commissioners, said that
the difficulty in carrying out the propo-
sition of the railroad company's attorney
as to deposit OF these bonds was that
the commissioners took the view that
their instructions were to issue tie
bonds in instalments, as portions OF the
road were finished, the call for the cleo
tiou reading plainly that 1.-THE finds
realized from such bonds to be expended
exclusively IN the construction and COM
pletion of said railroad within the coun-
ty Of Kershaw and through the town Of
Camden; $25,nO0 Of said bonds to be
issued and delivered when the road bed
is completed and ready for the rails
from Sumter County line to Camden !;
fifty thousand more OF said bonds to be
issued and delivered when the road bed
is completed and ready for the rails
from Camden northwxrd ten miles, and
the remaining," &c.
Mr.. Workman went OH to say that the
work was not commenced from Sumter
to Camden, and that that was the main
object of the subscription. II they COM
bine with the South Carolina Railway
at Camden, We ars not benefited, as
we will have 60 competing line. l have
been informed that when the Three C'$
Road is completed the Palmetto Road
will be pushed through, and this is
where we must look for benefit.
Mr.. John F. Arthur offered the follow
ing:
Resolved. That this meeting approve
and commend the action OF the county
commissioners of Kershaw County in
reiu- ing to allow to pass from their
hands the bonds issued as a subscription
to the Three C's Railroad until the law
authorizing their issue be fully complied
with.
This. called forth an explanatory
speech from Mr.. P. H. Nelson on the
part Of the railroad company. He said
that 1t seemed hard to be understood
that the Three C's Company did not
want the bonds, bat wanted them de-
posted subject to the order of the COM
mississioner of this county and to be
delivered when the contract was COM
piled with, 50 that better loans could be
effected by using these bonds as collat-
eral. The railroad company had al
ready spent in this COUNTY $l0O, ,0O0 be-
fore dollar was received from the
county, and it was right that they
should ask for proof OF good faith Oh
the part of the county, Of which good
faith they would be satisfied if the bonds
were deposited in the hands of a third
party subject to the county's order.
He showed that by this plan the rail-
road company could then be put on
the market in larger blocks, and by
this means the county would realize
more on the bonds subscribed. He
repeated that the bonds were not asked
for, but it was requested that they be
put in the Boston Safe and Deposit
Company's hands, subject to the order
Of the commissioners OF Kershaw Coun-
ty, and to be delivered to the railroad
company when the contract was complied
with, and not before. He further
showed the sbsurdity of our insisting on
the road being built to the Sumter line,
as, If the road Vas graded to the Sumter
line, the ceMpany could not be forced t.
60 19rther; and if they stopped there,
>sTen il trains were occasionally run to
the county line, this would be Of no
benefit to Camden in any way.
After some discussion and explanation
the resolution was adopted by vote
of IL to Z, only twenty persons voting.
1t was discovered after the meeting
that a great many would agree to the
depositing OF the bonds as already eX-
planned, but they endorsed the action
Of the commissioners, as they were
carrying out the letter of the contract.
The people of Camden are not opposed
to this road, but they insist that the
contract which requires portions of the
road to be finished before the install
ments OF bonds are paid should be car
ried out. There really seems TO be no
doubt that the road will benefit us in